Markets

Stock Market Remains Bearish

During Monday’s trading session, the equities market shed 21bps to settle at 30,609.06 due to losses in - GUARANTY (-2.7%), FBNH (-2.7%) and UNILEVER (-2.2%). Consequently, market capitalisation declined N26.5bn to settle at N11.2tn while YTD loss weakened to -20.0%. In line with the bearish performance, activity level worsened as volume traded depreciated 38.4% to 215.0m units and value traded declined 24.9% to N1.7bn.

Stock Market Capitalisation Down 0.24%

The Nigerian Stock Exchange (NSE) market capitalisation has dropped further on Thursday by N27 billion.

The market capitalisation lost N27 billion or 0.24 per cent to close at N11.165 trillion against N11.192 trillion achieved on Wednesday.

Also, the All-Share Index which opened at 30,642.35 shed 74.30 points or 0.24 per cent to close at 30,568.05.

Market analysts attributed the persistent bear market to investors concerns toward the outcome of the forthcoming general elections.

Domestic Equities Market Rebounds

Bargain hunting in banking stocks propelled a rebound in Tuesday’s session as the domestic equity market closed bullish. Bargain hunting in GUARANTY (+3.8%), UBA (+6.7%) and ZENITHBANK (+1.7%) drove the All Share Index (“ASI”) higher by 0.7% to settle at 31,007.25 points while YTD loss moderated to -18.9%. Investors' wealth improved as market capitalisation rose by N76.1bn to close at N11.3tn. Activity level weakened as volume and value traded declined by 20.5% and 22.2% respectively to close at 198.5m units and N2.1bn respectively.

Market Opens Week Bullish

In Monday’s trading session, the local bourse advanced 51bps to settle at 32,201.9 points on account of buy interests in market bellwethers – NIGERIAN BREWERIES (+2.7%), NESTLE (+1.4%) and FBNH (+2.0%). As a result, market capitalisation rose by N59.9bn to N11.8tn while YTD loss improved to – 15.7%. However, activity level weakened as volume and value traded shed 9.8% and 35.6% to 148.1m units and N1.8bn respectively.

Local Bourse Extends Losing Streak

The downtrend in the domestic equities market was sustained in Thursday’s session as  the benchmark index slid 0.8% to settle at 32,108.92 points while YTD loss worsened to -16.7%. In the same vein, market capitalisation reduced by N89.1bn to N11.6tn while the major drags to performance were GUARANTY (-6.7%), INTERNATIONAL BREWERIES (-10.0%) and ZENITH (-3.1%). However, activity level was mixed as value traded declined by 1.8% to N2.5bn while volume traded increased by 52.3% to 349.2m units.

Banking Stocks in the Red as Domestic Bourse Reverses Gains

Photo L-R: Nornah Awoh, Chief Equity Analyst at Palesa Capital Markets Associates Limited; Friday Ekeoba, Secretary General, Capital Market Correspondents Association of Nigeria (CAMCAN); Chinyere Joel-Nwokeoma, Vice President, CAMCAN;  Cyril Eigbobo, Chief Financial Officer, The Nigerian Stock Exchange (NSE); Dr.

Investors' Sell-offs Drags Down Market Performance

On Monday, investors' in ZENITH (-1.6%), GUARANTY (-1.8%) and DIAMONDBNK (-9.4%) lowered the benchmark index by 0.2% to 32,143.41 points as market capitalisation also shed N27.5bn to settle at 11.7tn while YTD loss worsened to -15.9%. However, activity level was mixed as volume traded increased by 17.0% to 142.0m while value traded dropped by 2.0% to N1.6bn. DIAMONDBNK (32.2m units), GUARANTY (20.0m units) and UBA (N16.1m units) were top traded by volume while GUARANTY (N738.1m), ZENITH (N285.2m) and UBA (N128.3m) were top traded stocks by value.
  

Bargain Hunting Buoys Market Performance

On Thursday, investors bargain hunting in market bellwethers - NESTLE (+1.4%) and GUARANTY (+1.2%) - lifted the benchmark index up 0.4% to 32,228.50 points as market capitalisation gained N43.9bn to 11.8tn while YTD loss moderated to -15.7%. However, activity level weakened as volume and value traded dropped 55.5% and 71.6% to 200.1m and N2.7bn respectively. ACCESS (81.3m units), FBNH (31.7m units) and FCMB (N10.6m units) were top traded by volume while NESLTE (N1.2bn), ACCESS (N0.6bn) and FBNH (N0.2bn) were top traded stocks by value.
  

Profit Taking Drags Benchmark Index

Photo: The Nigerian Stock Exchange (NSE) on Wednesday honoured its former Director-General, Apostle Hayford Alile, whose exit was announced on October 1, 2018. At the closing gong event were members of the Alile family which include his children and widow, Dr. (Mrs.) Patience Alile as well President, CEO, Past Presidents and DG of NSE.

 

Local Bourse Reverses Negative Performance

In line with our (Afrinvest) expectation, the domestic equities market gained 33bps in Tuesday’s session to settle at 32,154.03 points due to bargain hunting in bellwethers NIGERIAN BREWERIES (+1.3%), NESTLE (+3.6%), and UBA (+4.0%). As a result, market capitalisation increased by N38.6bn to N11.7tn while YTD loss moderated to -15.9%. Activity level was however mixed as volume traded fell 5.0% to 149.7m units while value traded appreciated 59.6% to N2.8bn.

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